Cuatrecasas has advised the Spanish tile manufacturer Baldocer S.A. on a takeover agreement by Grupo Lamosa S.A.B. de C.V., the Mexican multinational in the building materials industry that produces and markets ceramic floor and wall tiles, adhesives and thermal insulators. The transaction is subject to the usual legal and corporate approvals for this type of transaction.
Valued at a minimum of €425 million, the transaction will be paid in two parts; the first for €354 million at the time of closing the deal, and the second payment in 2025 for no less than €71 million, which could vary depending on the results. In terms of company value, the transaction will be free of net debt and will follow the usual adjustments in these cases.
Baldocer will continue to work independently and its workforce will not be affected by the takeover. Grupo Lamosa will diversify its product portfolio and strengthen both its presence in Europe and its global positioning. Both companies will be able to capitalize on their synergies, benefiting the different interest groups, as well as continue to offer a product portfolio with high added-value.
Corporate and M&A partners Pablo Cubel and Juan Grima advised on this transaction.